Car Auctions - Car has been reposesed

[FiatStiloJTD]

Going to a car auction this evening to look at a Fiat Stilo Active 1.9 JTD 2002 02 Reg with 51,000 miles on the clock and MOT to May 2007.

But the car has been reposesed, although it does have a v5 and both keys (no red key i prosume on the Stilo).

Not really a car question, but is there anything else documenation wise which should be with the car which has been reposesed.

The auction does have several terms and conditions - as not described etc.

Will this make it cheaper?

(Original Price £12,835 Franchised Dealer £4,415 Independent Dealer £3,860 Private Good £3,275 Private Poor £2,400 Part Exchange £2,985
Thanks,
Matt

 

[custard]

may bring up HPI issues for selling it on.assume if its sold at auction the car becomes finance free and any outstanding debt belongs to the person who took the finance

 

[FiatStiloJTD]

Forgot to say the car has a HPI report. Sorry custard

 

[jug]

with an auction you're lucky if you get any paperwork, even a log book is very rare. if you contact the previous owner you can usually get the service history, any missing keys and the document wallet from them, offer them a few quid if they dont seem keen to help.

if you do contact a previous owner do not give them your address details, as they may have a spare key, meaning they can steal the car very easily.

a stilo shouldn't have a red key, its code system 2.

i'd expect the car to go for £1500-1900 depending on who's at the auction and the car's condition. personally i'd expect £1500

 

[custard]

f it has all the keys and paperwork i guess the owners been (fairly) happy to give it up

 

[jug]

maybe it was fuct so he was happy to see it go?
then again its a fiat so its bound to have a few dozen faults, but that hasnt put any of us off yet.

 

[MATT 68]

with an auction you're lucky if you get any paperwork, even a log book is very rare. if you contact the previous owner you can usually get the service history, any missing keys and the document wallet from them, offer them a few quid if they dont seem keen to help.

How do you contact the previous owner if, like you say,"you're lucky if you get any paperwork, even a log book is very rare" . Every auction ive been to (Been to Hundreds) you cant sell the motor without a log book

 

[jug]

usually when you buy the car at auction (i've bought a few now and never got a logbook once) you have to apply for a log book with the dvla. you can get the form from a post office. when the new log book comes it states the previous owner's details. you then contact them. if you get a logbook at auction it usually means the car has been taken in part exchange by a dealer and deemed too crap to stick on the forecourt (such as the reg vardy auctions). i prefer to buy damaged cars, but the insurance company doesnt take the logbook when they collect a damaged car so it isnt there for auction. if you've been to so many auctions you'd know that

also, you cant sell a car at most auctions, they are purely ex-fleet, or salvage, or dealer, but if it is a private car auction obviously you will need to prove ownership before submitting a car to auction. but remember a log book doesnt prove ownership, legally a reciept is proof of ownership, a log book is proof that you are the registered keeper. a keeper isnt an owner

 

[MATT 68]

usually you buy the car at auction (i've bought a few now and never got a logbook once) if you get a logbook at auction it usually means the car has been taken in part exchange by a dealer and deemed too crap to stick on the forecourt (such as the reg vardy auctions). the insurance company doesnt take the logbook when they collect a damaged car so it isnt there for auction. if you've been to so many auctions you'd know that

Absolute crap I can assure you ive been to many auctions, either for myself or someone else buying and selling. Just because the car has a log book youre assuming its crap from Reg Vardy or similar, you dont get much crapper than crash damaged vehicles and even these can be found with log books on occasion. If i were to go on what youre saying then youre telling me, at auction only buy cars with no v5 as the ones with em are crap!

 

[faster4_tec]

you have to ask yourself why this car is at auction, its either damaged, dealer too old or not what they want, or private but too poor to sell properly!
accident damaged cars are often good reliablilty wise, just the damage to fix, so paint jobs and panel damage really doesn't affect anything.

 

[custard]

from another forum i frequent

IT IS NOW ILLEGAL IN THE UK TO SELL A CAR WITHOUT A V5 PUNISHABLE BY A £1000 FINE AND OR INPRISONMENT. THE BUYER MAY ALSO BE FINED

I was Having problems taxing mine as i do not have a Log Book. They told me i had to go to my nearest DVLA office and Tax it their. However you can Only do this if the Vehicle is registered as being in trade. and not Registered to an individual.
I had already sent off £19 to get a Logbook as that is now a standard fee.

When I got to my local office they made me pay another £19 as well as the money for the tax because they do not believe that i have sent off the V62 with my payment.

I will be Cancelling the Cheque, as i aint Paying twice.

I asked what would have happened if the vehicle was registered to an individual. and they told me i Would need to wait untill my V5 comes through, as a V62 would not be acceptable. You cannot complete a Declaration of sorn without the V5 or filling out a V62 again it must be Registered as in trade to do this, and pay £19. and You would not be able to tax the car, if you have not taxed the Vehicle within 14 Days youwill recieve an automatic £80 Fine when the vehicle becomes registered to you.

I said this is Total Crap and how can you punish people who buy a Car that has no V5. They replied, IT IS NOW ILLEGAL IN THE UK TO SELL A CAR WITHOUT A V5 PUNISHABLE BY A £1000 FINE AND OR INPRISONMENT. THE BUYER MAY ALSO BE FINED

So please all Be aware of this when Buying and Selling your cars.


The Following quotes and links are all from DVLA Website

The law requires both the seller and the buyer of a vehicle to sign a joint declaration on the Registration Document (V5)/Certificate (V5C). The legal responsibility to notify DVLA of the changes rest with the seller of the vehicle (the registered keeper at time of sale). When you purchase a vehicle the seller should tear off the green slip (V5/2 or V5C/2) of the Registration Document/Certificate and hand it to the buyer. The V5/2 or V5C/2 may be used as evidence of keepership when purchasing a vehicle licence up to two months from the date of sale.
(Taken From DVLA Website Here)

http://www.dvla.gov.uk/vehicles/regveh_tellingus.htm

Buying a vehicle?
The new keeper of a vehicle must also make a SORN declaration if they do not license and are keeping the vehicle off the road. This can be done on the form V890 mentioned above.

(Taken from Dvla Website) http://www.dvla.gov.uk/vehicles/vehlicnc.htm#i3

7. Unlicensed vehicles and Continuous Registration
If you are/or become the registered keeper of a vehicle, you must ensure that the vehicle is relicensed or a SORN declaration has been made. If it is not, you could face a fine and further penalties. Under the system of Continuous Registration (CR), which commenced in January 2004, it is not necessary for your vehicle to be sighted on the public road, for an offence to have been committed. DVLA now has the authority to carry out enforcement action against the registered keeper directly from information held on the vehicle licence records.

If your licence has just expired you may continue to use your vehicle for up to 14 days after its expiry as long as you have applied for a new licence that must run from the day after the last one expired. This 14-day period of grace is a concession. By law, you must display a current licence at all times the vehicle is in use.

 

[jug]

Absolute crap I can assure you ive been to many auctions, either for myself or someone else buying and selling. Just because the car has a log book youre assuming its crap from Reg Vardy or similar, you dont get much crapper than crash damaged vehicles and even these can be found with log books on occasion. If i were to go on what youre saying then youre telling me, at auction only buy cars with no v5 as the ones with em are crap!

sorry no i didnt mean that, i mean its often the case that a dealer will take a car in pat-ex and decide it isnt suitable for their forecourts (more than 4 years old or not same make as dealership sells) and so they send it to auction. i didnt mean it will be a crap car, just unsuitable for the dealer. crap that was the wrong word.

and you cant get much more profitable than crash damaged vehicles, so when buying at auction they arent crap either. i can fix things very cheaply and sell them on for a good profit, a fully working car ready to put on the road attracts a higher price at auciton, i'd rather get a cheaper one and fix it up, but thats just me. there's loads of good cars at auciton with a log book, and loads of crap ones too, same as buying anywhere you take a bit of risk with every purchase.



and custard, the rules about selling without a log book only apply to private sales. at auctions it completely different.

 

[FiatStiloJTD]

The car isn't crash damaged :idea:

 

[dave]

it will put private buyers off, so you might get it cheaper.

 

[bozzy]

and custard, the rules about selling without a log book only apply to private sales. at auctions it completely different.

Nope, auction houses are quite specific around entering cars without a V5. It is a pre-req and the rules above apply to ALL sellers.

On a different point, If my car was re-posessed I wouldn't take kindly to the next owner pumping me for information about the car.

 

[Jai]

On a different point, If my car was re-posessed I wouldn't take kindly to the next owner pumping me

amen.....salt in the wound etc etc